Svmuu News: Digital fintech company Cashea announced the completion of two funding rounds totaling $100 million, including a $60 million Series B round led by FinSight Ventures, with participation from Endeavor Catalyst, Plug and Play, endowment funds from several U.S. universities, and Latin American investors; and a $40 million Series A round, comprising $20 million in equity and $20 million in debt, led by Spice Expeditions with debt financing provided by Architect Capital.
Founded in Venezuela, Cashea primarily provides digital financial services through a mobile app. Given the long-standing restrictions in the local banking and credit markets and the persistent demand for consumer financing, Cashea aims to use its technology platform to offer more convenient payment and credit solutions to consumers and merchants. (Bloomberg)